Top seven metros account for over 70% of India's total retail stock

MUMBAI: Mumbai, NCR Delhi, Chennai, Kolkata, Bangalore, Pune and Hyderabad are the leading cities for retail and real estate operations in India as they account for over 70% of the country's total retail stock.

While NCR Delhi has a large retai stock that is comparable with leading Chinese and emerging ASEAN cities, stock in Mumbai is largely comparable with the Tier III cities of Changsha and Hefei in China. These are the findings of a research report, " Retail Realty in India-Evolution & Potential" released by global real estate consultancy Jones Lang LaSalle India on Sunday.

Although the gap between the retail stock of NCR Delhi and Mumbai seems high given the small income gap, Mumbai recently witnessed major improvements in infrastructure, which could help the city to spread its retail penetration further, said the report.

Tier I cities in Emerging Asia, except for Bangalore and Chennai, have retail stock of 20 million sq ft or above. Chinese Tier II cities of Shenyang and Chengdu have more retail stock than the comparable cities in the study. Shenyang, the largest city in northern China, has an established retail market and a robust industrial base.

"Additionally, the city acts like a transportation hub with direct connectivity to Beijing, Dalian and a few other established and emerging markets. This helps retailers to not only make Shenyang a destination for front-end sales, but also strengthen back-end logistics. Chengdu has a larger population and is home to a large concentration of high-net-worth individuals," said the report.

CHENNAI: Now flats in Chennai are likely to become a tad more costly since the Chennai Metropolitan Development Authority (CMDA) has decided to charge four times the previous security deposit from the builder while issuing planning permission.

MUMBAI: The Tata group has put more into building non-cyclical consumer facing businesses. Tata Sons, the investment holding company, has put fresh equity of about Rs 2,500 crore over three years into Trent, Infinity Retail, Tata Capital and Tata Housing.

CHENNAI: Businessman Vijay Mahtaney is looking for a buyer for his over nine grounds (one ground is 2,400 sq ft) of property in Chennai's Boat Club area, its most expensive address, in what could possibly lead to one of the priciest residential realty deals in the city in recent times.

BANGALORE: Global real estate services firm Jones Lang LaSalle Indian arm has raised Rs. 161 crore through its first fund focused on residential sector in India, a development that marks a cautious return of risk capital to the country's beleaguered property market.

DELHI: Domestic property developers tying up with international designers for residential projects seems to be a trend the country's luxury real estate sector is hooked on. On offer are products ranging from homes based on the Disney theme to Spanish-style living and interiors designed by the likes of Italy's Tonino Lamborghini, Casa and Armani.

DELHI:In recent months, real estate prices have shown an increase in 16 out of 26 cities covered by the country’s most authoritative residential housing price index, suggesting that prices may be finally bottoming out.